Romania ranks 4th in Europe in terms of projects for shopping centres

Romania currently shows effervescence in developing new shopping centres, ranking 4th in Europe in terms of new project for such centres, according to the „European Shopping Centers Report” released this spring by the global consultant in real estate Cushman & Wakefield.
In terms of already existing shopping centres, Romania ranks among the last in Europe, with 40.9 sq m per thousand people (with the European Union average standing at 195 sq m per thousand people). The surface to be covered by new shopping centres in Romania by the end of the year will reach 1.8 million sq m, with 910,000 sq m already existing early in 2008, so that the total number of sq m per thousand people is to reach in the end of 2009 127. Practically, Romania will triple its surface of shopping centres.
„The need for retail on the Romanian market, especially on the capital market, is still significant. Romanians like to spend money and they learned this for the foreigners. This very autumn, the company I represent inaugurates three projects: the retail park Vitantis Shopping Centre, the Fashion House Outlet Centre – the first outlet centre on the Romanian market, and the Liberty Centre – the mall on the Calea Rahovei street,” Razvan Gheorghe, general manager with Cushman&Wakefield Activ Consulting said.

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